Solidus Technologies, a supplier of high-powered IT equipment and computing power in the UK, is reportedly planning to build a datacenter and host crypto currency mining equipment across multiple locations in Surrey and Europe.
According to Adrian Stoica who manages the activities, Solidus Technologies is looking to raise ?10 million from investors to build and operate a 6000m2 farming facility in Europe and purchase around 4000 high performance mining rigs. The site can host up to 24,000 GPU’s capable of producing up to 700 GH/s in computing power.
Details on its website and promotional material state that solidus technologies are planning to offer fixed returns via an asset backed secured bond with a minimum investment of ?10,000
The upcoming facility uses high-specification cooling systems, because crypto mining equipment is always operated at 100 percent capacity: “That means you must calculate that the cooling is adequate and capable of handling 100 percent capacity at all times. All the equipment is always on and always in high load, there are no downtime or low activity periods.”
The company intends to secure deals with renewable energy providers to minimize the electricity cost and offset the power consumption needed to run the equipment in the UK and has partnered up with one of the largest data centre mining companies in Europe who have already been working with the EU governments on GPU Artificial Intelligence and with their unique optimizing process are able to increase Solidus Technologies 4000 units from 300 GH/s to around 360 GH/s.
With the price of Bitcoin at present combined with the difficulty level and power consumption needed to mine, it is said to be unprofitable to proceed to mine Bitcoin which is why Solidus will be mining Ethereum and other GPU-compatible coins. “Proceeds from the mining equipment will be securely stored and sold for investors returns and day to day running of the company. The coins not needed to be liquidated will be stored in off-line wallets and safety-deposit boxes.”
“We are entirely focused on maximizing the companies’ profits and the safety of our investors which is why we will aim to mine a variety of coins to counteract any volatility in the market and to stay diverse across the crypto sector.
As well as professional cooling, the site will invest in fibre connections to European data center hubs.: “Solidus is using the mining business to cover initial investment, costs and of course to make profit. That’s why we are prepared to make an initial large investment which pays out in three years. If something happens, we have a data center and can host pretty much anything there.
“We are not doing ASIC mining, we’re doing GPU mining. It means if anything happens in the crypto arena that hinders our profits or investors security, Solidus will have a ton of GPUs, with support direct from AMD, With minimal modifications, we can move into the AI business and continue to make above average returns.”